Another popular goodness of fit measure for discrete choice models is
McFadden's R-square (\(R^{2}_{M}\) ), due to [1]}. The
McFadden's R-square, also referred to as pseudo R-square or likelihood ratio
index, is defined as follows,
\(R^{2}_{M} = 1 - \frac{\ln L_{\mathrm {fit}}}{\ln L_{0}}\) 
